Buying a forklift is a substantial commitment for any facility. Not only does it require a significant cash outlay, but it also locks you into one forklift model for several years, demanding careful consideration. Furthermore, it entails ongoing costs and responsibilities. This is why many facilities are now opting for forklift hire over outright purchase.
Indeed, there are numerous benefits to choosing forklift hire, both in terms of logistics and finances. Let’s delve into these advantages in this article.
Forklift Hire: No Maintenance Worries
When you buy a forklift outright, you not only bear the capital cost but also the ongoing ‘cost of ownership’ throughout the vehicle’s life, including maintenance and servicing. However, when you opt for forklift hire, the responsibility for maintaining the forklift rests with the hiring company. This not only saves you on maintenance expenses but also eliminates the administrative hassle of arranging services.
Access to newer models you mightn’t otherwise be able to afford
One significant advantage of hiring forklifts instead of purchasing them outright is that it provides companies with access to the latest models they might not otherwise afford. There’s no need for a substantial upfront investment; you can spread the cost. Even if you could afford to buy a brand-new forklift outright, it’s unlikely that you’ll be in a position to replace it every few years as newer and improved models emerge. This is where the hire option shines. As newer models become available, you can return the old ones and hire the latest forklifts without reinvesting large sums of money.
Cost-effective (only pay when needed and no big upfront spend)
Purchasing a forklift outright entails significant expenditure both on acquisition and ongoing maintenance. Forklift hire allows you to spend less at a time and only pay for the forklift when you actually need it.
You can try different models/fuel types without committing
Another critical factor when choosing between purchasing and hiring a forklift is that the latter option keeps your options open. When you buy a forklift outright, you’re likely stuck with that model for several years. However, if you choose to hire a forklift, you can experiment with different models, fuel types, etc., to determine which one best suits your needs. If a particular model isn’t working out, it’s much easier to return a hired forklift than one already purchased and paid for.
Ideal for one-off projects
In some cases, a long-term forklift solution may not be necessary. For instance, you might need a forklift for a one-off project, such as a warehouse relocation or a new store opening. In such situations, it’s not economically efficient to buy a new forklift. Instead, you can simply hire a forklift for the duration of the project and return it afterwards. This eliminates upfront costs and maintenance hassles.
Short notice availability
Emergencies can arise where you require a forklift at short notice, such as when your warehouse is damaged and you need to move stock to an alternative location quickly. Purchasing a new forklift for such situations is impractical, but having the option to hire one at short notice can be the difference between saving your stock and incurring losses.
Handy for covering breakdowns/bolstering capacity
Even if you’ve purchased a forklift, there may be times when hiring one is a smart decision. For example, if your own forklift breaks down, hiring a replacement during the repair is an ideal solution. Alternatively, during unusually busy periods when your forklift isn’t sufficient to handle the workload, hiring a second forklift is a cost-effective solution, especially if the extra demand is seasonal.
In conclusion, opting for forklift hire rather than an outright purchase can benefit facilities of all sizes by reducing costs, minimizing maintenance expenses, streamlining administrative tasks, and minimizing downtime. It is also the most cost-effective solution for obtaining a forklift for short-term projects or emergencies.
Power Plant, with decades of experience in forklift and plant equipment hire in Ireland, can assist you in meeting your specific needs.
Contact us today at 053 9235003 or via email at sales@powerplant.ie.
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